ING Deal of the Year Award Winner 2018 for green ship finance (Marine Money)
ING, together with ABN AMRO, BNP Paribas, Citibank, KfW IPEX-Bank and Societe Generale, has won the Deal of the Year Award 2018 for green ship finance by Marine Money.
The participants in the deal were awarded for the $252 mln 7-year senior secured credit facility for Russia’s largest shipping company, Sovcomflot (SCF Group). The funds will be used for financing six Aframax tankers, the first-ever LNG fuelled vessels in this asset class. These innovative vessels set new environmental standards for the global tanker industry through adopting cleaner-burning LNG as a primary fuel.
In May 2019, SCF announced that it has signed an additional $297 mln credit facility for up to ten years with a consortium of three leading European banks, comprising ING, KfW IPEX-Bank, and Crédit Agricole Corporate and Investment Bank. The funds will be used towards financing two new generation 174,000-cubic metres Atlanticmax LNG carriers, which will operate under long-term charters to Shell.